Press release
What's Driving the Automotive Camera Market Growth? Aptiv, Denso, Magna International, Mobileye, OmniVision Technologies, Bosch, Hitachi, Valeo, Veoneer, ZF Friedrichshafen
The advent of trifocal cameras has enhanced the overall quality of automotive cameras. Moreover, these cameras are integrated with advanced LiDAR sensors which adds to the cost of the overall vision systems. Consequentially, it has been observed that price-conscious customers are reluctant to install automotive cameras in economic and low-cost vehicles, dampening the growth prospects of automotive camera market.
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However, with the launch of improved and technically-superior automotive cameras by startups, the prominent market players are making an effort to reduce the costs of popular automotive cameras. This trend might prove to be instrumental in revitalizing the automotive camera market size.
The automotive camera market has been gaining immense traction in recent years, with drivers creating a massive demand for hi-tech driving assistance equipment that can make vehicles safer for those on board as well for those outside the vehicle. At the 2019 New York International Auto Show, a slew of next-generation vehicles were put on display and most of them came fitted with in-car and exterior monitoring systems. While some of the cameras were used for blind spot monitoring, some were installed on the dashboard for facial recognition. Most cameras helped cars to see around them, helping the vehicles take another step towards an autonomous future while others improved vehicle security, safety and convenience by combating drunk driving through analysis of the driver's face and behavior.
Google released an auto trends search data in 2018 which conclusively indicated that increasing number of motorists are looking for onboard cameras. Such a trend has inspired automotive industry leaders like BMW, Tesla, Kia and General Motors to position themselves to meet increased demand creating a positive growth outlook for the automotive camera market. Cameras are being positioned almost everywhere inside and outside vehicles to get an overall vision of the vehicle's surroundings. For instance, the CT5 compact sedan designed by Cadillac that has been unveiled at the auto show has a camera on top of the steering column. The camera measures driver's awareness and allows hands-free driving assistance that helps the car navigate on its own as long as the driver stays attentive on most U.S. highways.
According to the U.S. National Highway Traffic Safety Administration (NHTSA) 37,133 people died in 2017 due to motor vehicle crashes and most of these crashes can be attributed to human error. The NHTSA is therefore a strong advocate for the increased implementation of safety features on vehicles and is leaning towards the inclusion of newer and advanced technologies such as pedestrian automatic emergency braking, backup camera, lane assist and blind spot detection besides many others. Most of these technologies involve the use of cameras. For instance, a pedestrian automatic emergency braking system typically uses forward-looking cameras to detect and avoid collision by automatically applying the brakes if the system determines a pedestrian is in danger of being hit by a vehicle.
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The rearview video system or the backup camera has possibly witnessed the strongest advocacy from the NHTSA as it helps prevent crashes and protects vulnerable people such as children, as they are almost impossible to detect while reversing a large vehicle. The support for making backup cameras on vehicles mandatory has been so strong that in 2014 the NHTSA announced that all vehicles sold in the U.S. after May 2018 should compulsorily be equipped with rearview camera system. The Trump administration has even tried to repeal the law but consumer awareness for the need of backup camera has already been raised and even if new vehicles are not equipped with backup cameras, the aftermarket demand for such equipment is quite strong indicating robust prospects for the automotive camera market.
Table of Contents (ToC) of the report:
Chapter 4. Automotive Camera Market, By Type (Revenue & Shipment)
4.1. Key trends by type
4.2. Mono
4.2.1. Market estimates and forecast, 2015 - 2025
4.3. Stereo
4.3.1. Market estimates and forecast, 2015 - 2025
4.4. Trifocal
4.4.1. Market estimates and forecast, 2015 - 2025
Chapter 5. Automotive Camera Market, By Vehicle Type (Revenue & Shipment)
5.1. Key trends by vehicle type
5.2. Passenger Cars
5.2.1. Market estimates and forecast, 2015 - 2025
5.3. Utility Vehicles
5.3.1. Market estimates and forecast, 2015 - 2025
5.4. Commercial Vehicles
5.4.1. Market estimates and forecast, 2015 - 2025
Chapter 6. Automotive Camera Market, By Application (Revenue & Shipment)
6.1. Key trends by application
6.2. ADAS
6.2.1. Market estimates and forecast, 2015 - 2025
6.2.2. Lane departure systems
6.2.2.1. Market estimates and forecast, 2015 - 2025
6.2.3. Emergency braking systems
6.2.3.1. Market estimates and forecast, 2015 - 2025
6.2.4. Forward collision warning
6.2.4.1. Market estimates and forecast, 2015 - 2025
6.2.5. Others
6.2.5.1. Market estimates and forecast, 2015 - 2025
6.3. Parking Assist
6.3.1. Market estimates and forecast, 2015 - 2025
Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/automotive-camera-market
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